The Socialist People’s Libyan Arab Jamahiriya : 2005 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion

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Release Date: © April, 2006
ISBN : 978-1-45182-307-3
Stock #: 1LBYEA2006001
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This 2005 Article IV Consultation underlies that in 2004, Libya’s macroeconomic performance was satisfactory, owing mainly to higher oil prices and increased oil output. Real GDP grew 4½ percent while consumer prices declined. The favorable developments in the oil market contributed to a significant improvement in the external current account surplus, which reached some 24 percent of GDP. In 2005, macroeconomic performance remained relatively strong. Real GDP growth was about 3½ percent, and inflation low. In contrast to previous years, economic growth is estimated to have been generated mainly in the non-oil economy.


Economic policy , Fiscal policy , Monetary policy

More publications in this series: IMF Staff Country Reports